Common use of CUSTOMER PAYMENT TERMS Clause in Contracts

CUSTOMER PAYMENT TERMS. Customer is required to have a valid credit card on file in order to make a reservation and to rent Equipment from Rental Company. It is the responsibility of Customer to inform Rental Company of its method of payment. If Customer’s account becomes past due, your credit card will be charged. NO SWITCHING BETWEEN PAYEES! This complicates insurance responsibilities and our ability to collect on a debt. If Customer or its agent takes possession of Equipment it is responsible for any damages and past due invoices. Rental Company will not switch the responsibility of an invoice to a different entity or person. INSURANCE DISCLOSURE If Customer is using insurance through another Company it must disclose this to Rental Company so Rental Company can obtain the insurance Company’s written consent. SMALL RENTALS $10,000 and lower If Customer is renting Equipment that it does not have insurance for, Rental Company can authorize and capture the amount of the Equipment on a credit card for its rental and then credit its card once the rented Equipment is returned to the Rental Facility, checked for damages and then invoiced. A rental will not occur until the credit on the card amount has been captured.